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20130104
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Search Results 0 to 29 of about 30 (some duplicates have been removed)
believe because you have a debt ceiling issue, otherwise we'll have sequestration. >> you can move the goal post. >> well, i believe that $1.2 trillion is a good goal over the next 10 years. neil: $1 to1.2 trillion that isa rounding error. >> we take 10% off everything, there are programs i would like to eliminate and keep others. but you know, there were a couple things that happened we made. first of all, yes taxing the go up on those people who as a couple make $450,000, and capital gains and dividend will go up, i want to thank those people. they are some of the first to put manage on the table. and we should not demonize them as wealthy, it is a great thing you grew up in america or come to america, and strife to make a business or do something or have an idea to become successful, and you many money from it, that is greater, that is what makes america, those people who have, i want to thank them personally for the fact they are going to help us. right now in this time period. there are also, the 2% increase that go back t to payroll tax, t now coming back, that is money that
. >> you fudged it in this one you'll do it again. >> we do have the debt ceiling issue otherwise we'll have sequestration. >> these automatic cuts, you can move the goal posts. >> well, i believe that 1.2 trillion is a good goal to cut over the next ten years. the fact that we-- >> and that's a rounding error, that's a rounding error worth of medicare. >> 10% off of everything, i mean, there are actual programs where i would like to eliminate and i would like to try to keep other programs, so, that's important. but you know, there were a couple of things that happened in this deal that we made. first of all, he yes, taxes will go up on those people who as a couple make $450,000, some capital gains and dividend will go up some percentage, but i want to thank those people because they're some of the first to put something on the table and i don't think we should demonize them as the wealthy, it's a great thing if you grow up in america or come to america and strive to make a business or do something or have an idea to become successful and you happen to make money from it, it's even g
, with the debt ceiling issue. we all know that that's going to be used as a tool or maybe a weapon, depending on your point of view, to get some next phase of the deal done. what do you expect to happen at that point? let's talk about that for a little bit. >> look, i think we have three weapons. we have the end of the sequester. we have the continuing resolution that comes to an end, and we have the debt ceiling. i hope to high heaven that these guys don't mess around with the full faith and credit of the u.s. government. using the debt ceiling i think is the wrong place to draw the line in the sand. i think speaker gingrich is right, that if they do draw the line in the sand there, they will end up at the end of the day just folding, you know. let's start negotiating today. >> what other leverage -- >> let's get the fiscal house in order. let's bring people together and actually do something instead of talk about it. >> what other leverage is there unless you -- i mean, there would be no tax deal from the other night if there had not been a fiscal cliff deadline. now we have a debt ceiling
divide over whether to raise the debt ceiling is the next issue out of washington that could stall out business on wall street. republicans are vowing to use the debt ceiling vote as leverage in an attempt to get severe cuts on federal spending and entitlement programs. president obama has said he has no plans to negotiate the debt limit with congress, leaving america back on the brink. juli neimann of smith moore and company is on the line with us with some thoughts on that. good morning. what will that mean for money managers? "this should be nothing more than a procedural vote, and if they don't go along with it and pull the stunt that they did in 2011, this really could throw the debt market into a problem. the big problem is the federal reserve is completely out of ammunition, so we are looking at a situation where if they are not in there supporting interest rates, you are going to see the market react and probably react badly. so investors and advisors could be in a rising interest rate environment before it really is due." thanks, juli. from new jersey northward, there's plenty
. >> debt ceiling is a separate issue. the bottom line is congress incurs bills, they have to be paid, and the debt ceiling is not going to be a component of these negotiations. >> so now president and the democrats need to make sure that they hold the line. liberals want him to do just that. president obama already has a mechanism in place to engage americans. he can go directly to the american people. the president already plans to use the bully pulpit of his state of the union address to make the case. he's also pushing forward with other reforms like immigration. administration officials do not want the president's second term to be sidelined by a financial brawl. but while the president engages republicans on other legislative agendas, the country needs to stay invested in this economic fight on capitol hill. democrats and progressives, they know this fight. they did it well in the 2012 campaign. they fought hard during the fiscal cliff fight and won that. clearly. this is basically the start of a new campaign. if you don't stay focused, if we don't stay focused, if we don't make
start hitting the debt ceiling and the other issues, we're going to have some problems. >> i expected that uncertainty because there was a lot of talk about that having really drastic effect on the jobs numbers. but it didn't. and i'm trying to figure out if that's an offset because of the holidays and all the seasonal hiring, you just heard christine romans reporting that health care's up and food services and drinking places and construction. >> right. >> but is that just -- was that a blip? >> well, i think it's generally good news, right? and there's more good news in the report that i haven't heard talked about much. we saw wages rise by 0.3% month to month which is a good thing, that's above what we think inflation should be and we've also seen the amount of hours worked from 34.4 to 34.5 hours per week and that means we're seeing people getting paid more and working more hours and that's a very helpful sign, so there are some good things that are happening. we still have to worry about the other things that christine talked about like small businesses not hiring as much and may
in the taxpayer relief act is the economy will do better if we address the issues like the debt ceiling without drama. peter: republicans are saying today's jobs report shows washington needs to reduce spending and deficits to boost economic growth and job creation. john boehner out with the statement saying all of that, the drag on quote the house will pass real spending cuts, meaningful reforms of entitlement programs that are driving us deeper into debt and a fairer, clean air tax code. cheryl: were you surprised? he sounded like he is truly saying this is not a turning point. there is more work to be done. he gives us more ideas what we can do to get jobs back in this country? >> the idea is to have the president's balanced approach for deficit reduction and economic growth. cheryl: we like to see it happen. great interview, thank you very much. the house has finally approved a bill aimed at superstorm sandy relief, at least some of it. with victims are going to have to wait for the rest of that money. what would you say to a new platinum:? is a way the president could win the debt limit fi
spending. now he says, republicans need to act on part two of the fiscal cliff, raising the debt ceiling. >> one of the reasons why it is so important that congress resolves some of issues that were left unresolved in the taxpayer relief act is that the economy will do better if we address issues like the debt ceiling without drama. >> but republicans said today not so fast. they plan it use the debt ceiling as leverage to negotiate more spending cuts with the white house. speaker john boehner, house republican speaker, saying, quote, the house will pass real spending cuts, meaningful reforms of entitlement programs that are driving uhgs deeper into debt and a fairer, cleaner tax code. ashley. ashley: peter barnes, thank you so much. well, the december jobs report could definitely be described as lackluster at best and markets seemed to agree. our next guest says that the markets are harley even focusing on economic data anymore these days. it is all about what goes on in washington. joining us milton ezrati, lord abbett senior economist and market strategist. milton, thank you for being
another thorny issue this year. president barack obama wants to raise the debt ceiling, that's the limit of how much the federal government can borrow. members of congress need to reach a deal by the end of next month. >>> students who survived a mass shooting at a school in connecticut have endured a rough few weeks. they went back to class for the first time since the attack. about 400 students arrived at an unused junior high school. they are using the building at a neighboring town as their new campus. their old school remains closed. a gunman entered sandy hook elementary last month killing 20 of their school mates and six adults. the attack prompted president barack obama to push for tighter gun control. he suggests he wants to ban assault rifles and strengthen background checks. a recent poll suggests many americans still oppose a ban on the sale of assault rifles. the national rifle association carried weight across capitol hill and many republicans too are against further restrictions. >>> al jazeera has set its sights on one of the world's biggest tv markets, the united states.
. the debt ceiling was put in there so the treasury didn't have to keep issuing bonds. most other countries when they issue legislation that has money, it is spent. america has an extra stopgap. it was not meant to control the treasury, it was the opposite, it's meant to give treasury enough room to issue bonds so they didn't have to keep doing it. using the debt ceiling and the ability to pay our bills for things we've already spent is just outrageous. it was outrageous in august and it continues to be outrageous, but the republicans continue to use this language that somehow it's to control spending. it's just incorrect. >> so back them up only in the fact that there are plenty of republicans who say, good god, do not use this. this will kill us. >> the question is, if we went over the cliff or failed to raise the debt ceiling, certainly there would be dire consequences. the question is, when else is the congress of the united states going to do anything proactively about spending? they have proven definitively over the last 70 years that they cannot do it. and this has become, for better
to business addressing a variety of contentious issues including the debt ceiling and the sequester. in washington jennifer davis, fox news. >>> here we go, the redskins take the field sunday against seattle. cornerback d'angelo hall will not have to worry about running into that ref who talked him out of a game earlier this season. headlinesman dana kinsey was set to be assign to the skins/seahawks game. you may remember this one. mckenzie got into a heated exchange when the redskins played pittsburgh in october. mckenzie ejected hall from the game. meantime the team continues to prepare for the seahawks and one of the team's coaches is getting some buzz around the league. >> while redskins fans enjoy their first division championship since 1999 and a home playoff game in sunday, seven head football coaches and five general managers were fired this week in the nfl. when that happens, names of potential candidates get thrown into the ring as replacements. one of the names mentioned was skins offensive coordinator kyle shanahan. kyle has been instrumental in the rise of robert griffi
time, the government will hit the debt ceiling. the looming battle over those two issues might make the last couple of weeks in washington seem like peace and harmony in comparison. rob and paula, back to you. >> thanks, karen. the day was supposed to be about the lawmakers, but one had the spotlight stolen. new york senator kirsten gillibrand's photo op with the vp didn't go as planned. her cute little son decided it was time to mess up mommy's hair. >> if he had touched biden's hair, that would have been funny. >> i don't think it would have moved. >>> secretary of state hillary clinton actually plans to be back at work next week. she left a new york hospital on wednesday and is now resting at her suburban home. a state department spokesman says she's talking to staff and looking forward to resuming her official duties. she will not be making any overseas trips, at least for the time being, as she continues to recover from that blood clot near her brain. >>> it's day two back in school for the children of sandy hook elementary school in connecticut. while the kids are in class, fo
's meant to give treasury enough room to issue bonds so they didn't veo ep doing it. using the debt ceiling and the ability to pay our bills for things we've already spent is just outrageous. it was outrageous in august and the republicans continue to use this language that somehow it's to control spending. it's just incorrect. >> so back them up only in the fact that there are plenty of republicans who say, good god, do not use this. this will kill us. >> the question is, if we went over the cliff or didn't fail to raise the debt ceiling, certainly there would be dire consequences. the question is, when else is the congress of the united states going to do anything proactively about spending? they have proven definitively over the last 70 years that they cannot do it. and this has become, for better or for worse, the pivot point. the demarkation, the line in the sand, president obama says, is he not going to tolerate a debt ceiling fight but the truth is, it doesn't matter whether he's going to tolerate it or not. >> it's not for better or worse, margaret, and you know that. you know it's
the debt ceiling or credit rating of the united states, that's a non-issue. you're right. that's the thing we should have learned back in august 2011. people don't pay attention to the credit rating agencies anymore, especially when it comes to sovereignty debt. >> if they cut enough time it starts to impact what the government has to pay for their debt. >> look at every institutional investor -- >> if it goes low enough some treasuries couldn't buy those because the rating wasn't high enough for them. >> if you look at every single institutional investor, they define that a u.s. treasury security is a separate investment independent of its credit rating. >> because it implies a aaa credit rating that it doblt even have right now. >> interest rates that the united states pay is what the united states want to charge it. >> why rate? >> i agree. >> it's pointless. >> they shouldn't. >> can we look at this another way for a minute? let's look at this another way. let's talk about this country being able to pay its long-term bills. forget what a credit agent says about the u.s. balance sheet.
term that include a super storm sandy relief bill. and a big measure to limit the nation's debt ceiling. by the way today they were reelected as speaker of the house, despite their own party that grew out of the fight. critics call them a megomaniac. now you might think that the anti-tax crew saider -- crusader would be lying low. but bruce leshan reports that they are keeping anything, but quiet. >> no, i'm disappointed that we were not able to continue all the 2001 to 2003 tax cuts. >> reporter: the days are filled with the media interviews and he is putting his best spin. on the first republican vote to raise taxes in 22 years. >> they were scheduled to go higher if congress had not acted. they were scheduled to go higher than everybody. >> reporter: they have all signed their pledge, never to raise tax rates on anyone as he insists the new year's day vote, they did not break that promise. >> on december 31 they would have broken that pledge. about that, i think we'll send the next two years focused on, you know, the obama white house in the fight on spending. >> so you think that yo
draining battle over fiscal issues over the so called fiscal cliff. we're running up against the debt ceiling. it could be even nastier fight we just saw. democrats say they won't deal on debt limit what they did in the summer of 2011. republicans say, no this is what when we have to cut our spending and get our finances in order and how they resolve this in the next two months will be a very interesting dynamic to watch. in terms of actual tone and the nature of the congress, you've got a lot of democrats will say, you've gotten rid some of the tea party fire brand republicans as they call them and hopefully that would make for more cooperative environment. there are a lot of new members of the congress are elected, they really ran on being cooperative, bipartisan, being problem solvers. it's so divided congress, we've got a democratic senate and we've got a republican house who really don't see eye on eye on much of anything. i'm not convinced at this point that very partisan nature of congress that we saw for the next two years will be too different now. host: let's look at the me
. that's the big issue here. they believe the debt ceiling debate is going to be a time to really bring that up and try to get the spending cuts that they didn't get in this deal that was just passed a few days ago. >> republicans are telling me, hey, you know, so you got your higher taxes, mr. president, democrats. now it's about cutting spending. now it's time for the democrats to start cutting spending. so that'll be the big fight coming up. athena jones, thank you so much. >>> ven dezuelan president hugo chavez has been hospitalized with respiratory insufficiency. he's been in the hospital since having cancer surgery three weeks ago. details were not given about his prognosis. he hasn't been seen publicly since his surgery. >>> a new role for american troops. they're in turkey this morning to help that country defend its border with syria. they'll attempt to shoot down any syrian ballistic missiles. the assad regime in syria has launched scud missiles near the border with turkey. >>> so she was reportedly still running the state department from her hospital bed. now secretary of sta
to see a lot of the same old fights over the same old issues, not just the fiscal cliff but also the debt ceiling. we know this past monday this week america reached its debt limit, $16.4 trillion, the treasury department will do what it can, take extraordinary measures to try to give breathing room but there's no way for congress to avoid. they have to vote to raise the debt ceiling in late february, early march. lot of big fights coming up. >> athena jones thank you so much. >> i think the headline on the speaker's victory yesterday should be house republicans punish john boehner, elect him speaker. this is not a job easy to do. i was watching him crying, to have the job for two more years to have the only central republican power in washington is tough. >> one person voted for eric cantor and at the time he is reported to put his head down and shook his head. >> that was the reaction on the house side but the drama, on the theater side, joe biden, man that guy was in his element with kids there at the ceremonial swearing in. at one point he comforted this small child who was a bit over
will begin a couple of months from now, probably in late february, early march, when we hit the debt ceiling and when the automatic spending cuts come into play again, and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. and, the fact of the problem of $2 trillion solutions to $60 trillion problems, you see the occasion of the lack o
't think congress wants to cut, except for maybe a handful. then you have the debt ceiling bill which runs smack into a government shutdown potential. those are the -- those are the big issues coming up in january and february. what do you want boehner to do? is it right for your and caucus that boehner stay out of the negotiations with obama? that's what he pledged. he wanted to pick up conservative votes as bob costa said. is that what you want him to do? >> well, that's his decision. what i want to make sure we do is if he does go into negotiations, this is critical for any negotiation, you have to be willing to walk away from the table. and then you can start moving things in a more conservative direction. and we can start controlling spending. look, we can raise the debt ceiling, not raise the debt ceiling. our credit rating will get downgraded. what we have to do if we want to do the right thing for our country is control spending that's what i ran on. that's what i'm intending to do representing the first district of oklahoma. >> all right. how about no more tax hikes in the house?
march, when we hit the debt ceiling and when the automatic spending cuts come into play again and either have to be replaced with other spending cuts, or again, kicked down the road. >> reporter: these are the same issues that snarled congress in the summer of 2011, and again during the fiscal cliff debate. there's little hope for a better outcome this year. president obama has promised not to negotiate with the new congress on raising the debt ceiling, but republicans are ready to use it to force major federal spending reforms and tame the national debt. right now, the u.s. owes $16 trillion, but some calculate our total liabilities much higher. and as congress jumps from small deal to small deal as they have been, analysts worry big problems are just getting bigger. >> $60 trillion is a conservative estimate of our unfunded liabilities of medicare social security, and medicaid put together. that's scary. that's scary. and, the fact of the problem of $2 trillion solutions to $60 $2 trillion solutions to $60 trillion problems, you see the occasion of the lack of problem and resolve of
time to do so. host: how high to the debt ceiling go? guest: i think it should go as high as it needs to go in order to accommodate what has already been committed. then we need to start scaling it back. i mean, i do not want to come across, because they said the duke -- debt ceiling should not be a hostage -- i am h. hoch on this issue. i am a simpson-bowles kind of guy. we have really got to address this. i am not sure the debt ceiling is the appropriate place to do it because you're playing russian roulette with the u.s. and perhaps even the world economy. i understand the frustration of people to say, well, we do not do that, how are we going to do it? there has got to be some of the pressure involved in forcing these changes. see, what happened last weekend with this fiscal cliff and the bill that passed? it was fine, but it is a tiny part of the solution to this debt problem. it really did not do much. what happened this past weekend was the easy part. the hard part is going to be serious spending cuts and perhaps some additional revenue, not from raising rates but from rebuildi
or some kind of fiscal crisis and that debt ceiling is sitting out about how we're going to resolve this. >> brown: let me ask you about the tax issue, robert reich. the president said he wanted to raise more in revenues. the liberals are now suggesting he didn't get enough and i'm just wondering is there still the possibility of getting more or that a done deal and we turn to the spending issues? >> well, hopefully there is the possibility of getting more, particularly from the wealthie members of our society. those bush tax cuts are now pretty much permanent. they are now built into law, they are no longer temporary. it will be very difficult to revisit them but not impossible. i think the president could and should go back and see if it's possible for the wealthy in this country, who have not been nearly this wealthy ever before, taking home a larger percentage of total income than they have in 60 years to contribute a little bit more to deficit reduction. the other point i want to make in response to both douglas and mia's points about entitlement reform ishat the real long-term prob
will happen on the debt ceiling. >> the president has said he will not negotiate on the debt ceiling. but we also have the sequester that's coming down the road. what do you think that these talks are going to start to look like? >> you have three cliffs coming in march, the sequester, the debt ceiling and the continuing resolution which i think ends sometimes towards the end of march. we've got three major decisions to make. all economic, all on fiscal policy. the president can fold his arms all he wants to and say he's not going to negotiate but, in fact, it's time he made permanent decisions on policy that begin to amortize and reduce our debt over time. make our spending on a cost/benefit analysis and stop the business of continuing resolution. >> senator, i know you were someone who has reached across the aisle to make sure you were working in a bipartisan way. when we've spoken with republicans recently, though, they have talked an awful lot about how they think that they're going to be getting spending cuts in these talks. when we've spoken with democrats they say they think they're g
Search Results 0 to 29 of about 30 (some duplicates have been removed)